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On the day of lies, the "doors" of online sports betting were opened. How will they work?

2024-04-01 12:51:42Biznes SHKRUAR NGA REDAKSIA VOX

On the day of lies, the "doors" of online sports betting were opened.

Online betting has again become a formal reality for individuals who prefer it. The much-debated legal changes have entered into force, officially opening the "doors" of a profitable industry for the state budget, but on the other hand, formalizing this sector, which until now has been operating in the black, despite the fact that it was not supposed to exist by law .

Any entity interested in exercising this activity will have to apply for a license after fulfilling a number of criteria established by law. Specifically, entities seeking to be licensed in the "Online Sports Betting" category must be joint-stock companies, with headquarters in Albania and registered with the CKB; have a capital amount of not less than ALL 40 million; to declare the source of the capital that will be invested for the exercise of the activity; have experience in the field of gambling in no less than 3 EU/OECD countries and for no less than 3 years, and the applicant entity or at least one of the shareholders must have generated in the last financial year at least 2 billion ALL turnover from activity in the field of gambling.

In order to guarantee the winners of the games of chance, the organizer of the "Online sports betting" category is obliged to solidify a fund of 120 million lek, but not less than 5% of the sums made available to the game by the players within a previous fiscal year, in a special bank account, in favor of the Ministry of Finance, which is unlocked only by order of the minister responsible for finance.

The legal changes strengthen the rules for exercising this activity as well as provide more security for players.

According to the new law, the Ministry of Finance will have under control any information about the amount played, as each player must be registered on the platform through the ID and all transactions between him and the company will be carried out through the banking system. Data on players will be kept for three years in a special register by all gambling organizers, as a measure to control exactly the amounts that can be circulated through this activity.


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